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Bankrupt Company News is the most trusted source for up-to-date corporate bankruptcy news. We're dedicated to providing detailed and timely information on Chapter 11 filings, corporate restructurings, businesses experiencing distress and more. Our contributors update daily, and all information is drawn directly from the 94 U.S. Bankruptcy Courts and other primary sources. Learn more about all the most recent bankruptcies filed at BankruptcyData.

Residential Capital and its official committee of unsecured creditors filed with the U.S. Bankruptcy Court a Second Amended Joint Chapter 11 Plan. A related Disclosure Statement was not filed as a result of the August 23, 2013 Court order approving the Disclosure Statement. According to the Plan, “The Second Amended Plan, among other things, reflects…

The U.S. Bankruptcy Court entered an oral summary of the Court’s written opinion regarding the City of Detroit’s eligibility to file for protection under Chapter 9 of the U.S. Bankruptcy Code (a written opinion is to follow). The summary asserts that the City of Detroit is insolvent and eligible for Chapter 9 protection and that…

Global Aviation Holdings filed with the U.S. Bankruptcy Court a motion for an order (a) approving sale procedures in connection with the sale of (i) the Debtors business or (ii) the acquired assets; (b) scheduling an auction, prevailing bidder hearing and manner of notice thereof and (c) establishing procedures relating to the cure amount for…

OCZ Technology Group and two affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 13-13126. The Company, which designs, manufactures and distributes high performance computer components, is represented by Michael R. Nestor of Young Conaway Stargatt & Taylor. The Company announced that it has…

The City of Detroit’s official committee of retirees filed with the U.S. Bankruptcy Court a motion to retain Segal Company (Contact: Stuart I. Wohl) as actuarial consultant at the following hourly rates: senior vice president at $500 to 750, vice president at 380 to 495, actuary at 325 to 450, analyst at 180 to 450…

The U.S. Bankruptcy Court approved AMR’s motion for entry of an order, pursuant to Bankruptcy Rule 9019(a), approving a settlement between the Debtors, US Airways Group and the United States Department of Justice (DOJ) and determining that the settlement does not materially and adversely affect the treatment of holders of claims and AMR equity interests…

Excel Maritime Carriers filed with the U.S. Bankruptcy Court an Amended Joint Chapter 11 Plan of Reorganization and related Disclosure Statement. According to the Disclosure Statement, “The Plan memorializes the terms of a consensual restructuring of the Debtors as agreed among the Debtors, their secured lenders holding more than 80% of such lenders’ claims, the…

Overseas Shipholding Group filed with the U.S. Bankruptcy Court a third motion to extend the exclusive period during which the Company can file can file a Chapter 11 plan and solicit acceptances thereof through and including February 28, 2014 and April 29, 2014, respectively. The motion explains, “In particular, the Debtors are now in active…

GateHouse Media’s Joint Prepackaged Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The Court confirmed the Plan on November 6, 2013. As previously reported, “Upon emergence, [the Company] will be under common ownership with Local Media Group, a company with a strong community media presence and performance that operates eight…

The U.S. Bankruptcy Court approved Residential Capital’s motion to enter into a settlement agreement among the Debtors, the official committee of unsecured creditors and Ally Financial. As previously reported, “The Debtors seek Court approval of the Debtors’ entry into an agreement with Ally and the Committee (the ‘Settlement’) that is ancillary to a separate settlement…

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